Covea Finance Boosts Stock Holdings in Nutrien Ltd. $NTR

Key Points

• Covea Finance increased its stake in Nutrien Ltd. by 16.5% in Q2, owning 73,500 shares worth approximately $4.27 million after acquiring an additional 10,400 shares during the quarter.
• Nutrien recently announced a quarterly dividend of $0.545 per share, representing an annualized yield of 3.8%, with shareholders of record on September 29th eligible for the payout.
• The company reported Q2 earnings of $2.65 per share, surpassing estimates, while its revenue was slightly below projections at $10.30 billion.

Covea Finance grew its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 16.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,500 shares of the company's stock after buying an additional 10,400 shares during the period. Covea Finance's holdings in Nutrien were worth $4,265,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its position in Nutrien by 0.4% during the 1st quarter. Public Sector Pension Investment Board now owns 47,329 shares of the company's stock worth $2,349,000 after buying an additional 200 shares during the last quarter. Blume Capital Management Inc. boosted its position in shares of Nutrien by 0.7% during the 1st quarter. Blume Capital Management Inc. now owns 31,796 shares of the company's stock valued at $1,579,000 after acquiring an additional 220 shares during the last quarter. Weatherly Asset Management L. P. boosted its position in shares of Nutrien by 0.7% during the 2nd quarter. Weatherly Asset Management L. P. now owns 38,799 shares of the company's stock valued at $2,280,000 after acquiring an additional 266 shares during the last quarter. Tidal Investments LLC lifted its position in Nutrien by 2.9% in the fourth quarter. Tidal Investments LLC now owns 10,262 shares of the company's stock valued at $459,000 after buying an additional 293 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its position in Nutrien by 5.9% in the first quarter. Mesirow Financial Investment Management Inc. now owns 5,532 shares of the company's stock valued at $275,000 after buying an additional 309 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Stock Performance

NYSE NTR opened at $57.03 on Tuesday. The firm has a market capitalization of $27.67 billion, a P/E ratio of 20.44, a P/E/G ratio of 0.93 and a beta of 0.77. Nutrien Ltd. has a 1-year low of $43.69 and a 1-year high of $65.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85. The business's 50-day simple moving average is $57.87 and its 200-day simple moving average is $56.59.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.24. The business had revenue of $10.30 billion for the quarter, compared to analyst estimates of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The company's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 EPS. Equities analysts predict that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.545 per share. The ex-dividend date is Monday, September 29th. This represents a $2.18 annualized dividend and a yield of 3.8%. Nutrien's payout ratio is currently 78.14%.

Analyst Ratings Changes

A number of research firms recently weighed in on NTR. Royal Bank Of Canada restated an "outperform" rating on shares of Nutrien in a research note on Monday, July 14th. UBS Group reduced their target price on Nutrien from $64.00 to $63.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. TD Securities raised their target price on Nutrien from $70.00 to $72.00 and gave the company a "buy" rating in a report on Monday, August 11th. Zacks Research downgraded Nutrien from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, Raymond James Financial downgraded Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 target price for the company. in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Nutrien presently has an average rating of "Hold" and an average target price of $62.39.

About Nutrien

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.

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